Boston Celtics To Go Up For Sale Weeks After Winning NBA Title

BOSTON, MA — Just two weeks after the Boston Celtics celebrated winning the 18th title in franchise history on the TD Garden parquet — and 10 days after partying in the streets of the city in front of more than one million fans during the championship parade — the ownership group that controls the team is putting it up for sale.

ESPN's Adrian Wojnarowksi reported Monday afternoon that the ownership group, led by majority owner Wyc Grousbeck, plans to make a majority stake in the franchise available.

The Celtics issued a statement shortly after Wojnarowski broke the news saying that the controlling family of the ownership group — which is the Grousbeck majority group — "after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations."

Some of the minority owners are reportedly looking to retain their shares of the team.

"The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as governor of the team until the closing in 2028," the statement said.

Grousbeck, Steve Pagliuca and most of the current ownership group bought the team for a reported $360 million in 2002. The team is now estimated to be worth more than $4 billion.

The stunning report comes just days after the Celtics won their record 18th NBA title and their first world championship since 2008.

It also came after Grousbeck said he would be "paid in parades" while owning a team with a skyrocketing payroll and luxury tax bill.

Just minutes before the sale was reported, it was also widely reported that guard Derrick White had agreed to a four-year contract extension worth $126 million. Hours later, Jayson Tatum reportedly agreed in principle to a NBA-record, supermax-level contract extension worth $315 million.

With those contracts, in addition to recent extensions for Jaylen Brown, Jrue Holiday and Kristaps Porzingis, the Celtics will soon have five players earning $30 million or more per year and could annually have a payroll — including taxes and penalties — of nearly $600 million per year within two years.

The projected playoff starting five of Brown, Tatum, Holiday, Porzingis and White has combined to sign $939 million in contract extensions over the last calendar year.

(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached @Scott.Souza@Patch.com. X/Twitter: @Scott_Souza.)